During the week ending June 22, metallurgical coke prices in the Chinese domestic market have moved on a rising trend, while transaction activity in the overall market has been at medium levels. As of June 22, coke futures contract (1809) offers at Dalian Commodity Exchange closed at RMB 2,111/mt ($325/mt), down RMB 85/mt ($18/mt) compared to the previous week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, domestic coking plants’ overall capacity utilization rates have decreased due to strict environmental protection requirements, while coking plants in Shandong Province have resumed their production after the Shanghai Cooperation Organization Summit 2018 (SCO), resulting in increased coke inventories at producers. Meanwhile, coking coal prices have moved down, which will weaken the support for coke prices. Following the rises seen in coke prices, steelmakers have been more cautious about buying coke. It is thought that coke prices in the Chinese domestic market will likely edge up in the coming week due to ongoing strict environmental protection measures.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change |
|
Coke |
Second grade |
Hancheng, Shaanxi |
2,210 |
340 |
↑100 |
|
Zibo, Shandong |
2,300 |
354 |
↑100 |
||
|
Pingdingshan, Henan |
2,130 |
328 |
↑100 |
||
|
Tangshan |
2,330 |
358 |
↑100 |
||
|
Huaibei, Anhui |
2,160 |
332 |
↑100 |
||
|
Average |
2,226 |
342 |
↑100 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.50